Summary
Motorola Solutions, Inc. (MSI) filed an 8-K on September 10, 2018, to announce a change in its Chief Accounting Officer. John Wozniak has transitioned from his role as Chief Accounting Officer to a new position within the company. Concurrently, the company appointed Dan Pekofske, a long-term employee with extensive experience in finance and treasury roles, as the new Corporate Vice President and Chief Accounting Officer, effective September 10, 2018. This appointment comes with a revised compensation package for Mr. Pekofske, including an increased base salary, adjusted short-term and long-range incentive plan targets, and the grant of non-qualified stock options and restricted stock units. Investors should note these changes as they reflect the company's investment in its financial leadership and alignment of executive compensation with company performance and shareholder value.
Key Highlights
- 1John Wozniak has stepped down as Chief Accounting Officer, moving to a new role within Motorola Solutions.
- 2Dan Pekofske has been appointed as the new Corporate Vice President and Chief Accounting Officer, effective September 10, 2018.
- 3Mr. Pekofske has a long tenure with the company, having served in various finance and treasury positions since 2004.
- 4Mr. Pekofske's base salary has been increased to $285,000.
- 5His short-term incentive plan (STIP) target award percentage has been increased for the remainder of 2018.
- 6His long-range incentive plan (LRIP) target award has been increased for ongoing performance periods.
- 7Mr. Pekofske was granted 1,906 non-qualified stock options and 393 restricted stock units (RSUs) under the Omnibus Incentive Plan, with vesting over three years.